Will the Indian economy exceed China?
Harsh Bansal, Civil Servant at Government of India (2017-present)
India has a big advantage which china does n’t which is demographic dividend.India’s 65% population is below 35 and on the other hand China’s population is ageing which led to Increase in labor cost.When labor cost will rise then all manufacturing companies try to shift their base in country where they will get abundant labor at low cost.This will be our India.
But Tricky part is there that we have to make successful our “Make In India” and “Skill India” initiative through various reforms like Tax reforms, reducing red tap-ism, labor reforms and also focus on massive infrastructure building like roads,railways etc .
If all this done properly through political stability then definitely Indian economy exceed China.
I wish that dream become reality so that we can ensure economic justice to people which is promised by Preamble of Constitution.
Naby Souleymane Bangoura
It’s possible but it’s unlikely. China has been growing just as fast as India if not faster and India has only JUST began to grow faster thanks to Modi. China had a 15 year head start. Also I think the socialism has helped China because it educates the new generation and because the state supports most businesses financially; India is capitalist and its democracy means decisions take time to take effect. I’d say India has the potential to exceed China sometime between 2050 and 2070